What is a DAO?
DAO:
Decentralized
Autonomous
Organization
DAO's are the future of organizing and mobilizing like-minded individuals. Utilizing blockchain technology, ownership becomes fully transparent and put 100% into the hands of the people. The blockchain technology provides a secure digital ledger to track financial interactions across the internet. Only the people who hold ownership of the DAO's token have input into what decisions are made and what direction the DAO heads.
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Decentralized organizations enable work to be distributed to the community members instead of being entirely driven by top-down decision making hierarchies. While tokens financially align participants to contribute value to such a network, it is grassroots community leadership and ownership that enables the long-term success of a token network. Ownership is not fostered through financial incentive design but rather through a long-term focus on community building
Once $VTG goes live:
To join the Vintage DAO, you will need to purchase 25,000 $VTG tokens. $VTG is the currency of the DAO. (Vintage Punk holders will receive 25,000 $VTG tokens for free when the token goes live). Unlike traditional 'membership dues'. this purchase of the 25,000 $VTG tokens only needs to be made once, and it will last you your entire lifetime. On top of that, as a token holder you will participate in the increase in value of the token, which is based on the amount of value the DAO is providing you as a member.
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Think about a gym membership for example, you pay a certain amount monthly for that. But then your gym builds a new building and offers new services, so they increase the cost of the membership on you. Plus, you're not making any money by the financial increase in value the gym is now worth by adding those new improvements. So now you just need to pay more money monthly to be a member at the same place you were a month ago at a different price.
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With a DAO, that paradigm is flipped upside down. DAO's make membership an asset. The price of a 'gym membership' is replaced by a token cost. You actually own your membership in the DAO, and can theoretically buy/sell that ownership at any time. But because you own it, you participate in the increase in value of the DAO as it grows in value. When that 'new building' gets built by the DAO (in Vintage DAO's case, an example would be hosting lives event down the road), the dollar value of the $VTG token goes up in value. And because you truly own that membership, the value of your membership goes up in value too.